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Mortgage rates haven't moved much so far this week and they were surprisingly steady at the end of last week despite volatility in the underlying bond market. What does the bond market have to do with rates? Typically everything! But times are a bit different right now for a few reasons. The most pressing consideration for mortgage rates in recent weeks has been the introduction, delay, and impending reintroduction of a new fee that will apply to all conventional refinances. That fee effectively raises rates by 0.125-0.25%. The damage was even bigger at first due to the way it was implemented. As such, when the fee was delayed 2 weeks ago, it allowed lenders to improve mortgage rates regardless of bond market volatility. In the bigger picture , mortgage rates have already encountered quite
Mortgage Rate Watch
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Mortgage rates haven't moved much so far this week and they were surprisingly steady at the end of last week despite volatility in the underlying bond market. What does the bond market have to do with rates? Typically everything! But times are a bit ... (read more)
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Rob Chrisman
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I don’t know exactly when it happened, but somewhere along the line my dog learned the noise the cheese grater makes when I pull it out of the drawer. (Taking out the vegetable peeler doesn’t elicit quite the same response.) It appears th... (read more)
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Housing News
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Fannie Mae says its Home Purchase Sentiment Index (HPSI) which, before a slight setback in July, had been rebounding strongly from its April COVID-19 related plunge, got back on track last month. The August index, based on responses to six questions ... (read more)
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Housing News
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While servicing income was down, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks had a very profitable second quarter. They reported an average net gain of $4,548 on each loan they originated, up from a reported gain of... (read more)
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Housing News
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The volume of mortgage applications reversed direction last week, pulling out a small gain after three straight weeks of declines. The Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending September 4, was up ... (read more)
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MBS Commentary
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Lock Decisions Still Hinge on Adverse Market Fee
The bond market had a decent showing today, ultimately rallying back into positive territory after a weaker start. We could agonize over what amounts to ... (read more)
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